The 21,853-sf strip center, situated on two acres, sold for slightly less than the $925,000 asking price, Jerry D. Goldstein with the Houston office of Marcus & Millichap Real Estate Investment Brokerage Co. tells GlobeSt.com. Goldstein marketed the property for seller, Air TDK Inc., a Houston construction business that occupied part of the center.
Goldstein says the 24-year-old center was nearly 100% occupied by local tenants at sale time. It is positioned a block from the 68,000-sf Inwood Village, a Weingarten Realty Trust property with Gerland's as the anchor. The whole process was quick, Goldstein says, adding the buyer placed the first bid and the seller was motivated to work on closing the deal.
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